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The brutal tech stock selloff is already over—at least for one well-known company

AP Photo/Marcio Jose Sanchez
Shareholders have liked Facebook lately.
This article is more than 2 years old.

Yes, it’s been an ugly few weeks for high-flying tech stocks. But as rough as it’s been, just before midday today, Facebook was up nearly 6% this week. This was thanks to a big jump the shares got on Wednesday after Sheryl Sandberg said she had ruled out running for political office and was staying on as Facebook’s second-in-command for the time being.

In fact, Facebook is the top-performing stock in the S&P 500 index this week and the shares are still up a tidy 9% this year, even after tumbling 15% over the last month. So, at least for Facebook, that brutal selloff hasn’t been so brutal after all.

 

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